Pletcher Dental Clinic is a medium-sized dental service specializing in family dental care. The clinic is currently preparing the master budget for the first 2 quarters of 2020. All that remains in this process is the cash budget. The following information has been collected from other portions of the master budget and elsewhere. Beginning cash balance $30,900 Required minimum cash balance 25,750 Payment of income taxes (2nd quarter) 4,120 Professional salaries: 1st quarter 144,200 2nd quarter 144,200 Interest from investments (2nd quarter) 7,210 Overhead costs: 1st quarter 79,310 2nd quarter 103,000 Selling and administrative costs, including $2,060 depreciation: 1st quarter 51.500 2nd quarter 72,100 Purchase of equipment (2nd quarter) 51,500 Sale of equipment (1st quarter) 12,360 Collections from clients: 1st quarter 242,050 2nd quarter 391,400 Interest payments (2nd quarter) 206 Prepare a cash budget for each of the first two quarters of 2020. PLETCHER DENTAL CLINIC Cash Budget For the Two Quarters Ending June 30, 2020 1st Quarter 2nd Quarter eginning Cash Balance 30900 257 dd : Receipts Collections from Clients 270250 4370C Sale of Equipment 13800 Investment Interest 0 805 Total Receipts 284050 44505 otal Cash Available 318550 4738C ess V: Disbursements Professional Salaries 161000 16100 Payment of Income Taxes 0 460 Selling and Administrative Costs 55200 7820 Equipment Purchase 0 575C Overhead Costs 88550 1150C Total Disbursements 304750 4163C xcess (Deficiency) of Cash Available Over Cash Disbursements 13800 575C financing Idd V: Borrowings 14950 ess Repayments 0 1518 inding Cash Balance ta 28750 $ 575C